Energy and Utilities

Give Your Processes an Energy Boost with Data

We understand your document-centric challenges when it comes to energy, renewables, utilities, oil and gas, water and manufacturing. There are mountains of documents, both physical and electronic, to monitor and process – billing, invoices, credits, orders, well logs, directional surveys, inspection reports, field notes, land rights, compliance forms, audits, contracts, taxes, human resources, mail, records, archives, handwritten documents and more. In addition, apply the pressure to satisfy energy demands and climate change goals that require modernization. It’s time to rid your business of manual data entry and accelerate your processes through intelligent document automation.

Case Study

Operational Improvements for Energy and Utilities

A holistic approach to technology modernization in these industries is being driven by climate resources, goals and governance. Strategic changes are happening at the top of organizations as leaders are looking to improve operational efficiency as well as the global impact as suppliers of modern living comforts: water, electricity, oil, gas, chemicals and other necessities that we are accustomed to. Business composability, or having operating capabilities that enable quick adaptation to industry changes, should be on the forefront for CIOs, operations and automation leaders.

Keeping this in mind as part of a larger, strategic hyperautomation approach, intelligent document processing (IDP) can improve your technology stack by enabling data-driven decisions to improve customer experience and customer communications as well as to drive efficiency, productivity and accuracy with accessible data. It will also make environmental, social and governance (ESG) requirements easier to produce and uphold. Improving any process that involves a high volume of documents will help energy and utility companies obtain operational excellence internally and externally.

BENEFITS OF INTELLIGENT DOCUMENT PROCESSING

How exactly can IDP help your company? Here are some of the major benefits you could enjoy from using data capture solutions from Ephesoft.

Increases Efficiency and Productivity

IDP lets you process massive amounts of data from the document capture process quickly. And since your employees don’t have to spend time on data entry, they can focus on more meaningful tasks, thus improving productivity and employee satisfaction. In addition to extracting the data from machine printed documents, Ephesoft IDP also features handwriting and cursive data extraction at industry-leading, highest accuracy results of 88% on average. Ephesoft also allows for universal document automation allowing for unknown document types to be processed for data discovery without requiring prior document set-up.

Saves Time and Money

Manual data entry eats away at valuable time from your employees. Employers have to pay for copious amounts of time spent on menial tasks like sorting and copying. IDP cuts down that time drastically, so your money will be better spent on employees doing more valuable work. And, it’s environmentally friendly, cutting down on paper, printing and storage costs.

Simplifies Data Privacy and Compliance

Data privacy is a major concern for many companies—an information breach can lead to customer dissatisfaction and a loss of sales. When you implement document processing solutions, you are installing secure technology that helps prevent misuse or manipulation. You can also set it up to allow only a select few authorized individuals who can access all of your data. Digitization can also speed up audits, reporting and ESG requirements.

Supports Scalability

A growing business means a growing pile of paperwork to sort and upload. That may be a problem for companies that rely on manual data entry, but not for those that adopt IDP. IDP platforms are highly scalable, allowing you to file and organize as many paper and digital documents as needed.

Builds the Foundation for Digital Transformation

Turning unstructured data into structured data is the first step to digitize your document-centric business processes. From there, you can seamlessly push the data into other systems such as ERP, EMS, ECM, iPaaS, RPA, utility software or any line of business solution to create end-to-end workflows.